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How Tariffs, Geopolitics, and Monetary Policy Are Reshaping Global Trade
Conversation with Paul Sheard- Author of The Power of Money

June 17, 2025

6:00 - 7:30 PM ET

Join us for a timely and thought-provoking conversation with renowned economist Paul Sheard, author of The Power of Money: How Ideas about Money Shaped the Modern World, as we celebrate the launch of the Chinese edition of his acclaimed book.

At a moment when tariffs and economic nationalism are shaking the foundations of global trade, Sheard will move beyond central banking and monetary theory to explore one of the most urgent questions of our time: What happens when the world’s two largest economies weaponize trade policy — and the U.S. dollar’s role as the world’s reserve currency comes into question?

This is more than a book talk. It’s a conversation about the future of global trade, power, and money.

From Washington to Beijing, tariffs are back on the table—and so is uncertainty. In this provocative discussion, Sheard will unpack how the global trade order is shifting, what it means for the U.S.-China relationship, and why the “power of money” may not be enough to stabilize a world drifting into economic fragmentation.

🎁 Complimentary copies of The Power of Money—in both English and newly released Chinese editions—will be available on a first come, first served basis.
✍️ The author will sign books after the talk.

Speaker & Moderator
Paul Sheard

Author & Economist

Dr. Paul Sheard, a noted Australian American economist and policy-watcher based in New York, is the author of the Wall Street Journal bestselling business book, The Power of Money: How Governments and Banks Create Money and Help Us All Prosper (Matt Holt Books). Known for his ability to see the forest and the trees, Sheard speaks frequently on economic and policy issues at events around the world and in the media.

Sheard cut his teeth as a markets economist in Tokyo covering Japan’s “lost decades” and then, as global chief economist of Lehman Brothers in New York, he had a front-row seat at the global financial crisis. He was Japan Strategist and then Head of Japan Equity Investments at Baring Asset Management. Most recently Research Fellow and M-RCBG Senior Fellow at Harvard Kennedy School and before that Vice Chairman of S&P Global, Sheard held global chief economist positions at S&P Global, Standard & Poor’s Rating Services, and Nomura Securities, faculty positions at Osaka University and the Australian National University, and visiting positions at Stanford University and the Bank of Japan.

Sheard has been a member of several World Economic Forum expert councils. He was appointed by two prime ministers to serve on advisory committees of the Japanese Government and was a member of the oversight board of the Japanese Government’s Research Institute of Economy, Trade and Industry. He was a non-executive director of the major Japanese financial services company, ORIX Corporation, and is Executive Advisor to the Group CEO of Sompo, a leading Japanese insurance group.

A member of the Bretton Woods Committee, the Council on Foreign Relations, the Economic Club of New York, and the National Committee on U.S.-China Relations, Sheard sits on the board of the Foreign Policy Association.

Sheard’s 1997 book in Japanese, The Crisis of Main Bank Capitalism, won the prestigious Suntory-Gakugei Prize, and was followed in 2000 by another book in Japanese, Mega Corporate Restructuring. Sheard has a Master of Economics and PhD from the ANU, and an honorary Doctor of Laws from his alma mater, Monash University.


Susan Yuqing Feng

Moderator
Director of Programs, China Institute in America

Susan Yuqing Feng joined China Institute as Director of Programs in October of 2023. Before joining CI, Susan was the Editor in Chief of Bitpush News, a leading block chain media based in New York and a columnist for the Financial Times Chinese Edition.

Throughout her journalism career, Susan conducted interviews with a multitude of world economic and political leaders, including Warren Buffet, Bill Gates, Alan Greenspan, Paul Volker, President Clinton, Zbigniew Brzeziński, Michael Bloomberg, Thomas Friedman, and many more.  Susan has also directed the documentary series “World Movers” which was released in March 2018. It illustrated the emerging new world order 70 years after WWII, shedding light on what has changed the U.S. and the world and the forces affecting everyone. It focused on the relationships between technology and globalization, the impact on immigration, and the future of U.S.-China relations.

Susan graduated from Columbia University and got her MA in International Affairs.

This program is made possible through the support of the Chinese International Education Foundation, and generous supporters of China Institute in America.

This program is supported, in part, by public funds from the New York City Department of Cultural Affairs in partnership with the City Council.

China Institute in America’s cultural programs are made possible by the New York State Council on the Arts with the support of the Office of the Governor and the New York State Legislature.

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